Google’s new Nexus 5 smartphone, manufactured by LG, is expected to be announced on 31 October – but we may also see this smart watch product at the same event.

9to5Google’s Seth Weintraub claims that finishing touches are being made to the alleged Nexus Watch. Weintraub’s source tells him the smart watch will be centred on Google Now functionality, offering users answers to queries and notifications before they even have to search, based on their usage on Google’s wide range of services.

Rumours of a Google smart watch have been circulating for over a year now and, last October, reports on a patent filing from Google engineers solidified the company’s intentions.

With Google’s first wearable tech venture, Glass, set to reach consumer availability in 2014, a smart watch product could provide an alternative housing Glass functionality in a lower-cost, less conspicuous device.

Like Glass and other smart watches on the market, Google’s device will likely be a companion product for smartphone owners, pairing via Bluetooth 4.0 and providing an alternative display to receive notifications and, perhaps, voice control functionality.

Google is also said to be working on ensuring battery life is long-lasting.

If the Nexus Watch transpires, Google will enter a new market with competitors Sony, Samsung and, if reports are to be believed, Apple. Analysts at Juniper Research believe that mobile smart wearable devices will be worth US$19bn by 2018, which explains why key players want to get in ahead of the pack.